Marshall Wace LLP Decreases Stock Position in 2seventy bio, Inc. (NASDAQ:TSVT)

Marshall Wace LLP cut its holdings in 2seventy bio, Inc. (NASDAQ:TSVT) by 41.2% during the 4th quarter, Holdings Channel reports. The firm owned 275,536 shares of the company’s stock after selling 193,347 shares during the period. Marshall Wace LLP’s holdings in 2seventy bio were worth $810,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TSVT. China Universal Asset Management Co. Ltd. purchased a new position in 2seventy bio in the 4th quarter valued at about $32,000. Raymond James Financial Inc. acquired a new stake in 2seventy bio in the 4th quarter worth about $52,000. Intech Investment Management LLC grew its holdings in 2seventy bio by 41.1% in the 4th quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock valued at $61,000 after buying an additional 6,030 shares during the period. Wells Fargo & Company MN increased its stake in shares of 2seventy bio by 23.2% during the 4th quarter. Wells Fargo & Company MN now owns 32,532 shares of the company’s stock valued at $96,000 after acquiring an additional 6,133 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of 2seventy bio by 9.5% during the 4th quarter. Rhumbline Advisers now owns 84,670 shares of the company’s stock worth $249,000 after acquiring an additional 7,379 shares during the period. Hedge funds and other institutional investors own 93.90% of the company’s stock.

Insider Activity at 2seventy bio

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $4.95, for a total transaction of $25,205.40. Following the completion of the sale, the chief executive officer now directly owns 1,121,034 shares of the company’s stock, valued at approximately $5,549,118.30. This represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total transaction of $25,350,607.23. The disclosure for this sale can be found here. Insiders have sold a total of 5,152,093 shares of company stock worth $25,400,018 in the last three months. 7.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

TSVT has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 2seventy bio in a research note on Thursday, April 24th. Leerink Partners reiterated a “market perform” rating and issued a $5.00 target price (down previously from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Morgan Stanley dropped their price target on 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Finally, Leerink Partnrs lowered shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.60.

2seventy bio Price Performance

NASDAQ TSVT opened at $4.99 on Thursday. The company’s fifty day moving average price is $4.45 and its two-hundred day moving average price is $3.77. 2seventy bio, Inc. has a 12 month low of $2.29 and a 12 month high of $5.30. The company has a market capitalization of $261.17 million, a price-to-earnings ratio of -2.68 and a beta of 1.04.

2seventy bio (NASDAQ:TSVT) last posted its earnings results on Tuesday, March 25th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.08). 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. The company had revenue of $2.93 million during the quarter, compared to the consensus estimate of $12.84 million. As a group, analysts anticipate that 2seventy bio, Inc. will post -1.46 EPS for the current year.

2seventy bio Company Profile

2seventy bio, Inc, a cell and gene therapy company, focuses on the research, development, and commercialization of treatments for cancer in the United States. The company's products pipeline includes Abecma, a chimeric antigen receptor T-cell product candidates for the treatment of multiple myeloma.